Stock futures head lower to end the week

Forecasters warn the recent rise in stocks might be too big and too fast

U.S. equity futures are pointing to a lower open when the Friday trading session begins.

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The major futures indexes are suggesting a decline of 0.5 percent to end the week.

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Traders are concerned economic recoveries might fade as coronavirus cases increase in the United States and some other countries.

In Asia on Friday, the Nikkei in Tokyo shed 1.1 percent, the Hang Seng in Hong Kong retreated 1.8 percent and China's Shanghai Composite lost 1.9 percent.

In Europe, London's FTSE is adding 0.3 percent, Germany's DAX was higher by 0.2 percent and France's CAC rose 0.1 percent.

EXPIRING CORONAVIRUS JOBLESS BENEFITS POSE RISK TO RECOVERY

Global stock prices have recovered most of this year’s losses on optimism about a recovery from the coronavirus pandemic. But forecasters warn the rise might be too big and too fast to be supported by uncertain economic conditions.

On Thursday, the benchmark S&P 500 index lost 0.6 percent, the Dow Jones Industrial Average dropped 1.4 percent and the Nasdaq composite added 0.5 percent to a record 10,547.75.

TickerSecurityLastChangeChange %
I:DJIDOW JONES AVERAGES27791.44+357.96+1.30%
SP500S&P 5003360.47+9.19+0.27%
I:COMPNASDAQ COMPOSITE INDEX10968.356828-42.63-0.39%

U.S. government data showed 1.3 million workers filed for unemployment claims last week. That is down from 1.4 million the prior week and a peak of nearly 6.9 million in late March.

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In energy markets, benchmark U.S. crude lost 84 cents to $38.78 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price international oils, declined 74 cents to $41.61 per barrel in London.

The Associated Press contributed to this article.